Hawaii Hard Money Deal - Active

750

2 deals

No

Haleiwa

Hawaii

$2,000,000

$400,000

My husband and I have an opportunity to buy an off-market property that would serve as a rental property. . Our offer was accepted at 2 million, currently, a 2 Bedroom 2 bath, zoned to put three more bedrooms/bathrooms on the property. We can comfortably put 20% down, maybe 25%. We have hopes to one day run our business out of it, hosting luxury camps for athletes. Eventually, we want to put build the first high altitude gym in Hawaii on the property.

We are looking for the lowest monthly payment possible as we get off the ground, which has been tricky considering we are both Self-Employed. This is a huge investment, and in order to work on the property, we will need to easily make lower payments in the first couple of years, even if that is at a higher pricepoint down the line. We also own a 1 Bedroom condo in Colorado, an STVR 1 bedroom condo in Kailua-Kona, and a 5-acre lot in Kona valued conservatively at 600,000. We are wondering what our options are and if we can use the land as collateral.

Thank you,

Cat